Germany's Cabinet has approved a budget plan that foresees a 2.6 per cent increase in spending next year and a balanced budget over the next four years.
The plan presented by Finance Minister Wolfgang Schaeuble today foresees 337.5 billion euros (USD 383.4 billion) in spending next year.
However, Germany holds an election on September 24 and the next government will make the final decisions on the budget.
Schaeuble said that, "today's decisions are a proof for four years of successful government work."
Also today, German news agency dpa said the parliamentary budget committee approved the recently agreed 8.5 billion-euro eurozone bailout payment to Greece.
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